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Adverse Credit Loans

If you’ve got an adverse credit history, finding a good deal on a loan can seem like a hard task. At Ocean Finance, we specialise in helping people like you find adverse credit loans.

  • Personal and Homeowner loans
  • Loans for almost any purpose
  • Won’t affect your credit rating
Did you know we can offer personal loans from £100-10k and homeowner loans for £10k-£100k?
Are you a homeowner?
You can also borrow this amount as a homeowner loan, available over 3 to 25 years. Would you prefer this?

Unsecured loans:
49.9%
APR Representative (variable)
Homeowner loans: We have helped people with rates from 3.0% APRC to 26.4% APRC.

What is adverse credit?

If you’ve missed payments, or made late or partial repayments on a loan, mortgage, credit card or other borrowing in the past 6 years, these will appear on your credit history. Even missed or late mobile phone bill payments can affect your credit history negatively.

If you have adverse credit, it’s true that some lenders may see you as more of a risk to lend to. With very bad credit, loans may well be more difficult to find, or you might find borrowing more expensive. Luckily, we may well be able to help you access adverse credit loans.


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Find adverse credit loans with Ocean Finance

We can help you find homeowner loans and personal loans, specifically designed to help people with adverse credit. Even if you have a CCJ or arrears, you may still be eligible for a loan.

If you do have extremely bad credit, loans are on the market specifically designed to cater to your situation. We’ll do our best to find you the most favourable adverse credit loans online, so you can start to rebuild your credit rating.

Try our loan calculator to see what your payments could be

The amount we show you is just an estimate. To get a personalised quote, we’ll ask for a few more details.

Estimated monthly payments:£0

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What’s a homeowner loan?

With a homeowner loan, sometimes called a secured loan, you could borrow £10,000 to £100,000 for almost any purpose, over 3 to 25 years. A homeowner loan is secured against your property, so you have to own your home to be eligible. If you’ve an adverse credit history, you may be more likely to be accepted for this type of loan, compared to a personal loan. That’s because your home acts as extra security for the lenders.

Remember, homeowner loans are secured against your property, so if you’re unable to keep up with your repayments, your home could be at risk.

What’s a personal loan?

A personal loan is also known as an unsecured loan, and is not secured against your home. This means you don’t have to be a homeowner to be eligible. You could borrow £100 to £10,000 for almost any purpose, over 3 to 60 months.

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Rebuilding your credit history

You should only look into adverse credit loans online if you’re confident you can meet the repayments. But, if you’re in a good financial situation now, an Ocean adverse credit loan could help you rebuild your credit rating. If you meet your repayments for a very bad credit loan on time each month, you’ll be showing lenders that you can manage your money responsibly. This should be reflected in your credit rating.

Read our guide to rebuilding your credit history for more information and handy tips.

Common questions

What can I use an adverse credit loan for?

At Ocean Finance, we help people find loans for lots of different things. Whether it’s to make some improvements to your home, for debt consolidation (to repay existing unsecured debts and reduce your monthly repayments), for a new car, or even to pay school or university fees, we could help. So, for those with extremely bad credit, loans become more accessible with Ocean Finance.

Can I get a loan if I’ve missed payments in the past?

If you have an adverse credit rating due to missed payments in the past, it can make it more difficult to get a loan. But it’s not impossible. We have loans that are designed for people with less than perfect credit ratings. The loan may carry a higher interest rate compared to a loan for someone with a perfect credit history though.

What’s the difference between a homeowner loan and a personal loan?

As the name suggests, to be accepted for a homeowner loan, you must own your own home, which isn’t the case with a personal loan.

Homeowner loans are for larger amounts of money (£10,000 to £100,000) and they can be repaid over 3 to 25 years. Personal loans are for smaller amounts (£100 to £10,000) and need to be repaid over a shorter term – 3 to 60 months.

What can I use a loan for?

A homeowner loan or personal loan can be used for almost any purpose, whether you need to buy a new car, make some home improvement, pay for a wedding or consolidate your debts.

Why use Ocean Finance?

It’s really quick and easy to apply for a loan with Ocean Finance – just pop in a few details and get an immediate quote.

  • Personal loans from £100 to £10,000
  • Homeowner loans from £10,000 to £100,000
  • We consider all circumstances, including CCJs, mortgage arrears, defaults and adverse credit ratings
  • No up-front fees

Other types of loans we offer